After the start of his second term in January, U.S. President Donald Trump launched a chaotic trade policy: he raised tariffs on dozens of countries, later reviewed some tariffs, and signed several preliminary trade deals.
The average tariff on imports to the United States reached its highest level since the Great Depression, and there are signs that tariff escalation is already feeding into higher prices for consumers.
However, these tariffs are not limited to the United States. Below are five examples from around the world.
Switzerland, Japan, and Mexico: hits to economies
The Swiss economy recorded its sharpest downturn since the pandemic’s peak, with official data pointing to pressure from reduced production in the chemical-pharmaceutical sector and instability in external trade flows amid new U.S. tariffs.
In Japan, the third quarter also brought declines in indicators: the…
